編制和分析管會計信息

1、.：.；- Page PAGE 66 of NUMPAGES 66 Northern Melbourne Institute of TAFE (NMIT) 2021- PAGE 71 Northern Melbourne Institute of TAFE(NMIT) 2007COMMERCE DEPARTMENTINTERNATIONAL PROGRAMSDIPLOMA OF FINANCIAL SERVICES(FNS50107)PREPARE AND ANALYSE MANAGEMENT ACCOUNTING INFORMATION(FNSACCT613B)Answers to exer

2、cisesSOLUTIONS TO EXERCISESUnit One Variable and Absorption Costing1.1a) Unit cost of production AbsorptionDirect materials$150,000 100,000 units= $1.50 / unitDirect labour$200,000 100,000 units= $2.00 / unitVariable overhead$ 50,000 100,000 units= $0.50 / unitFixed overhead$100,000 100,000 units= $

3、1.00 / unit $5.00 / unitb) Unit cost of production VariableDirect materials$150,000 100,000 units= $1.50 / unitDirect labour$200,000 100,000 units= $2.00 / unitVariable overhead$ 50,000 100,000 units= $0.50 / unit $4.00 / unitc) Closing inventory Absorption20,000 units x $5.00= $100,000d) Closing in

4、ventory Variable20,000 units x $4.00= $80,000_1.2a) Opening inventory Absorption5,000 units x $2.40= $12,000b) Closing inventory Absorption30,000 units x $2.40= $72,000c) Opening inventory Variable5,000 units x $2.00= $10,000d) Closing inventory Variable30,000 units x $2.00= $60,000_1.3a) Income Sta

5、tement for month ended 30th April Absorption Costing$Sales (40,000 units x $22)880,000Less COGS: Opening inventoryNil Production costs: Direct materials(40,000 units x $5) 200,000 Direct labour(40,000 units x $4)160,000 Variable overhead(40,000 units x $1)40,000 Fixed overhead(40,000 units x $2)80,0

6、00480,000480,000 Less closing inventory Nil480,000Gross Profit400,000Less other expenses: Fixed selling & administration150,000 Variable selling & administration (40,000 units x $3)120,000270,000Net Profit130,000Income statement for month ended 31st May Absorption costing$Sales (40,000 units x $22)8

7、80,000Less COGS: Opening inventoryNil Production costs: Direct materials(45,000 units x $5) 225,000 Direct labour(45,000 units x $4)180,000 Variable overhead(45,000 units x $1)45,000 Fixed overhead(45,000 units x $2)90,000540,000540,000 Less volume variance10,000530,000 Less closing inventory (5,000

8、 units x $12)60,000470,000Gross Profit410,000Less other expenses: Fixed selling & administration150,000 Variable selling & administration (40,000 units x $3)120,000270,000Net Profit140,000Income statement for month ended 30tth June Absorption costing$Sales (38,000 units x $22)836,000Less COGS: Openi

9、ng inventory (5,000 units x $12)60,000 Production costs: Direct materials(35,000 units x $5) 175,000 Direct labour(35,000 units x $4)140,000 Variable overhead(35,000 units x $1)35,000 Fixed overhead(35,000 units x $2)70,000420,000480,000 Plus volume variance10,000490,000 Less closing inventory (2,00

10、0 units x $12)24,000466,000Gross Profit370,000Less other expenses: Fixed selling & administration150,000 Variable selling & administration (38,000 units x $3)114,000264,000Net Profit106,000b) Income Statement for month ended 30th April Variable Costing$Sales (40,000 units x $22)880,000Less Variable

11、COGS: Opening inventoryNil Variable production costs: Direct materials(40,000 units x $5)200,000 Direct labour(40,000 units x $4)160,000 Variable overhead(40,000 units x $1)40,000400,000400,000Less closing inventory Nil400,000Gross Margin480,000Less other variable expenses: Variable selling & admini

12、stration (40,000 units x $3)120,000Net Contribution Margin360,000Less fixed expenses: Fixed overhead80,000 Fixed selling & administration150,000230,000Net Profit130,0001.3 b) continuedIncome Statement for month ended 31st May Variable Costing$Sales (40,000 units x $22)880,000Less Variable COGS: Open

13、ing inventoryNil Variable production costs: Direct materials(45,000 units x $5)225,000 Direct labour(45,000 units x $4)180,000 Variable overhead(45,000 units x $1)45,000450,000450,000Less closing inventory (5,000 x $10)50,000400,000Gross Margin480,000Less other variable expenses: Variable selling &

14、administration (40,000 units x $3)120,000Net Contribution Margin360,000Less fixed expenses: Fixed overhead80,000 Fixed selling & administration150,000230,000Net Profit130,000Income Statement for month ended 30th June Variable Costing$Sales (38,000 units x $22)836,000Less Variable COGS: Opening inven

15、tory (5,000 units x $10)50,000 Variable production costs: Direct materials(35,000 units x $5)175,000 Direct labour(35,000 units x $4)140,000 Variable overhead(35,000 units x $1)35,000350,000400,000Less closing inventory (2,000 x $10)20,000380,000Gross Margin456,000Less other variable expenses: Varia

16、ble selling & administration (38,000 units x $3)114,000Net Contribution Margin342,000Less fixed expenses: Fixed overhead80,000 Fixed selling & administration150,000230,000Net Profit112,000_1.4a) Income statement for Year 1 Absorption costing$Sales (55,000 units x $30)1,650,000Less COGS: Opening inve

17、ntory (10,000 units x $15)150,000 Production costs: Direct materials(60,000 units x $4) 240,000 Direct labour(60,000 units x $6)360,000 Variable overhead(60,000 units x $4)240,000 Fixed overhead(60,000 units x $1)60,000900,0001,050,000 Less volume variance10,0001,040,000 Less closing inventory (15,0

18、00 units x $15)225,000815,000Gross Profit835,000Less other expenses: Variable selling (55,000 x $1)55,000 Variable administration (60,000 x $2)120,000 Fixed selling25,000 Fixed administration15,000215,000Net Profit620,000Income Statement for Year 2 Absorption Costing$Sales (55,000 units x $30)1,650,

19、000Less COGS: Opening inventory (15,000 units x $15)225,000 Production costs: Direct materials(50,000 units x $4) 200,000 Direct labour(50,000 units x $6)300,000 Variable overhead(50,000 units x $4)200,000 Fixed overhead(50,000 units x $1)50,000750,000975,000 Less closing inventory (10,000 units x $

20、15)150,000825,000Gross Profit825,000Less other expenses: Variable selling (55,000 x $1)55,000 Variable administration (50,000 x $2)100,000 Fixed selling25,000 Fixed administration15,000195,000Net Profit630,0001.4 continuedb) Income Statement for Year 1 Variable Costing$Sales (55,000 units x $30)1,65

21、0,000Less Variable COGS: Opening inventory (10,000 units x $14)140,000 Variable production costs: Direct materials(60,000 units x $4)240,000 Direct labour(60,000 units x $6)360,000 Variable overhead(60,000 units x $4)240,000840,000980,000Less closing inventory (15,000 x $14)210,000770,000Gross Margi

22、n880,000Less other variable expenses: Variable selling (55,000 units x $1)55,000 Variable administration (60,000 x $2)120,000175,000Net Contribution Margin705,000Less fixed expenses: Fixed overhead50,000 Fixed selling 25,000 Fixed administration15,00090,000Net Profit615,000Income Statement for year

23、2 Variable Costing$Sales (55,000 units x $30)1,650,000Less Variable COGS: Opening inventory (15,000 units x $14)210,000 Variable production costs: Direct materials(50,000 units x $4)200,000 Direct labour(50,000 units x $6)300,000 Variable overhead(50,000 units x $4)200,000700,000910,000Less closing

24、inventory (10,000 x $14)140,000770,000Gross Margin880,000Less other variable expenses: Variable selling (55,000 units x $1)55,000 Variable administration (50,000 x $2)100,000155,000Net Contribution Margin725,000Less fixed expenses: Fixed overhead50,000 Fixed selling 25,000 Fixed administration15,000

25、90,000Net Profit635,000_1.5Reconciliation of profits AprilProfit Absorption$130,000Add fixed overhead component of opening stock -Less fixed overhead component of closing stock( - )Profit Variable$130,000Reconciliation of profits MayProfit Absorption$140,000Add fixed overhead component of opening st

26、ock $140,000Less fixed overhead component of closing stock(5,000 units x $2)$ 10,000Profit Variable$130,000Reconciliation of profits JuneProfit Absorption$106,000Add fixed overhead component of opening stock(5,000 units x $2)$ 10,000$116,000Less fixed overhead component of closing stock(2,000 units

27、x $2)$ 4,000Profit Variable$112,000_1.6Reconciliation of profits Year 1Profit Absorption$620,000Add fixed overhead component of opening stock(10,000 units x $1)$ 10,000$630,000Less fixed overhead component of closing stock(15,000 units x $1)$ 15,000Profit Variable$615,000Reconciliation of profits Ye

28、ar 2Profit Absorption$630,000Add fixed overhead component of opening stock(15,000 units x $1)$ 15,000$645,000Less fixed overhead component of closing stock(10,000 units x $1)$ 10,000Profit Variable$635,000_1.7a) Income statement for Year 1 Absorption costing$Sales (2,100 units x $1,000)2,100,000Less

29、 COGS: Opening inventory (400 units x $600)240,000 Production costs: Direct materials(2,200 units x $200) 440,000 Direct labour(2,200 units x $240)528,000 Variable overhead(2,200 units x $100)220,000 Fixed overhead(2,200 units x $ 60)132,0001.320,0001,560,000 Plus volume variance12,0001,572,000 Less

30、 closing inventory (500 units x $600)300,0001,272,000Gross Profit828,000Less other expenses: Variable selling & admin. (2,100 x $10)21,000 Fixed selling & admin.160,000181,000Net Profit647,000Income Statement for Year 2 Absorption Costing$Sales (2,300 units x $1,000)2,300,000Less COGS: Opening inven

31、tory (500 units x $600)300,000 Production costs: Direct materials(2,500 units x $200) 500,000 Direct labour(2,500 units x $240)600,000 Variable overhead(2,500 units x $100)250,000 Fixed overhead(2,500 units x $60)150,0001,500,0001,800,000 Less volume variance6,0001,794,000 Less closing inventory (70

32、0 units x $600)420,0001,374,000Gross Profit926,000Less other expenses: Variable selling & admin. (2,300 units x $10)23,000 Fixed selling & admin.160,000183,000Net Profit743,0001.7 continuedb) Income Statement for Year 1 Variable Costing$Sales (2,100 units x $1,000)2,100,000Less Variable COGS: Openin

33、g inventory (400 units x $540)216,000 Variable production costs: Direct materials(2,200 units x $200)440,000 Direct labour(2,200 units x $240)528,000 Variable overhead(2,200 units x $100)220,0001,188,0001,404,000Less closing inventory (500 x $540)270,0001,134,000Gross Margin966,000Less other variabl

34、e expenses: Variable selling & admin. (2,100 units x $10)21,000Net Contribution Margin945,000Less fixed expenses: Fixed overhead144,000 Fixed selling 160,000304,000Net Profit641,000Income Statement Year 2 Variable$Sales (2,300 units x $1,000)2,300,000Less Variable COGS: Opening inventory (500 units

35、x $540)270,000 Variable production costs: Direct materials(2,500 units x $200)500,000 Direct labour(2,500 units x $240)600,000 Variable overhead(2,500 units x $100)250,0001,350,0001,620,000Less closing inventory (700 x $540)378,0001,242,000Gross Margin1,058,000Less other variable expenses: Variable

36、selling & admin. (2,300 units x $10)23,000Net Contribution Margin1,035,000Less fixed expenses: Fixed overhead144,000 Fixed selling 160,000304,000Net Profit731,000c)Reconciliation of profits Year 1Profit Absorption$647,000Add fixed overhead component of opening stock(400 units x $60)$ 24,000$671,000L

37、ess fixed overhead component of closing stock(500 units x $60)$ 30,000Profit Variable$641,000Reconciliation of profits Year 2Profit Absorption$743,000Add fixed overhead component of opening stock(500 units x $60)$ 30,000$773,000Less fixed overhead component of closing stock(700 units x $60)$ 42,000P

38、rofit Variable$731,0001.8a) Income Statement for the year ended 30thJune 2021 Absorption Costing$Sales (130,000 units x $12)1,560,000Less COGS: Opening inventory (10,000 units x $8)80,000 Production costs: Direct materials(125,000 units x $3.00) 375,000 Direct labour(125,000 units x $1.50)187,500 Va

39、riable overhead(125,000 units x $1.50)187,500 Fixed overhead(125,000 units x $2.00)250,0001,000,0001,080,000 Less volume variance10,0001,070,000 Less closing inventory (5,000 units x $8)40,0001,030,000Gross Profit530,000Less other expenses: Variable selling & admin. (130,000 units x $1)130,000 Fixed

40、 selling & admin.200,000330,000Net Profit200,000b) Income Statement for the year ended 30th June 2021 Variable Costing$Sales (130,000 units x $12)1,560,000Less Variable COGS: Opening inventory (10,000 units x $6)60,000 Variable production costs: Direct materials(125,000 units x $3.00)375,000 Direct

41、labour(125,000 units x $1.50)187,500 Variable overhead(125,000 units x $1.50)187,500750,000810,000Less closing inventory (5,000 x $6)30,000780,000Gross Margin780,000Less other variable expenses: Variable selling & admin. (130,000 units x $1)130,000Net Contribution Margin650,000Less fixed expenses: F

42、ixed overhead240,000 Fixed selling 200,000440,000Net Profit210,000c)Reconciliation of profits:Profit Absorption$200,000Add fixed overhead component of opening stock(10,000 units x $2)$ 20,000$220,000Less fixed overhead component of closing stock(5000 units x $2)$ 10,000Profit Variable$210,000Unit tw

43、o Activity Based Costing2.1Design:$150,000 6000 design changes= $25 / design changeAssembly:$480,000 20,000 machine hours= $24 / machine hourTesting:$ 90,000 6000 tests= $15 / test_2.2Overhead allocated to activities (using first-stage cost drivers):Materials handling:$250,000 x 10%= $ 25,000Quality

44、 control:$250,000 x 50%= $125,000Moulding:$250,000 x 40%= $100,000Overhead application rates:Materials handling:$ 25,000 6,250 parts= $4 / partQuality control:$125,000 5,000 batches= $25 / batchMoulding:$100,000 10,000 units= $10 / unit_2.3a) Overhead allocated to Job 65 Activity based costingDesign

45、:8 design changes x $25 / design change= $200Assembly:4 machine hours x $24 / machine hour= $ 96Testing:6 tests x $15 / test= $ 90 $386b) Overhead allocated to job 65 Traditional methodOverhead application rate:$720,000 14,400 direct labour hours= $50 / DLHOverhead allocated:8 x $50= $400_2.4a) Over

46、head allocated per unit Traditional method:Overhead application rate:$480,000 32,000 DLH= $15 / DLHOverhead allocated to units produced:Moondust:Stardust:40 DLH x $15= $60080 DLH x $15= $1,200$600 100 units= $6 / unit$1,200 200 units= $6/ unit2.4 continuedb) Overhead allocated per unit Activity base

47、d methodOverhead allocated to activities:Materials handling:$480,000 x 10%= $ 48,000Machining:$480,000 x 50%= $240,000Quality control:$480,000 x 10%= $ 48,000Engineering:$480,000 x 30%= $144,000Overhead application rates:Materials handling:$ 48,000 24,000 parts= $ 2 / partMachining:$240,000 24,000 m

48、achine hours= $10 / MHQuality control:$ 48,000 4,800 inspections= $10 / inspectionEngineering:$144,000 1,800 set ups= $80 / set upOverhead allocated to units produced:Moondust:Stardust:100 parts x $2= $20030 parts x $2= $ 6040 MH x $10= $40060 MH x $10= $60010 inspections x $10= $100 5 inspections x

49、 $10= $ 50 2 set ups x $80= $160 1 set up x $80= $ 80 $860 $790$860 100 units= $8.60 / unit $790 200 units = $3.95 / unitc)It is widely believed that activity based costing is a more accurate method of allocating overhead to products than the traditional method. It is obvious that activities that oc

50、cur within a business cause overhead costs to be incurred in the first place and therefore these overhead costs should be allocated to products based on their use of the activities. From the data given, it is obvious that Moondust makes a greater use of the activities per unit than Stardust and ther

51、efore the overhead allocated to a unit of Moondust should be greater than that allocated to a unit of Stardust. When the traditional method was used, Stardust received the same amount of overhead per unit as Moondust. This meant that that under the traditional method, Stardust was probably over-cost

52、ed, which may result in lost customers and sales._2.5a)Overhead recovery rate traditional method$75,000 10,000 MH = $7.50 / MHOverhead allocated to products traditional methodStandard: 5,000 MH x $7.50 = $37,500Luxury: 5,000 MH x $7.50 = $37,500Overhead per unit traditional methodStandard: $37,500 1

53、0,000 units = $3.75 / unitLuxury: $37,500 5,000 units = $7.50 / unit2.5 continuedb)Overhead recovery rates activity based methodSet-up:$5,000 150 set-ups= $33.33 / set-upMachining:$40,000 10,000 MH= $4 / MHMaterials handling:$10,000 150 reqns= $66.67 / reqnPacking:$20,000 300 ord. packed= $66.67 / o

54、rd. packedOverhead per unit activity based methodStandard:Set-ups50 x $33.33=$1,666.50Machining5,000 x $4=$20,000Materials handling50 x $66.67=$3,333.50Packing 100 x $66.67=$6,667$31,667 10,000 units= $3.17 / unitLuxury:Set-ups100 x $33.33=$3,333Machining5,000 x $4=$20,000Materials handling100 x $66

55、.67=$6,667Packing 200 x $66.67=$13,334$43,334 5,000 units= $8.67 / unit_2.6Cost of Job 76:Direct materials$2,540Direct labour$1,060Factory overhead;140 parts x $4= $ 5605 batches x $25= $ 12575 units x $10= $ 750$1,435$5,035_2.7a) Overhead recovery rate traditional method$440,000 8,000 DLH = $55 / D

56、LHQuotes traditional methodJob 520 $Job 521 $Direct materials1,500Direct materials1,700Direct labour1,200Direct labour1,200Overhead (100 DLH x $55)5,500Overhead (100 DLH x $55)5,500Cost8,200Cost8,400 x 120%x 120%Quote9,840Quote10,0802.7 continuedb)Overhead recovery rates activity based methodSet-up:

57、$120,000 600 set-ups= $200 / set-upMaterials handling:$90,000 9,000 requisitions= $10 / requisitionMachining:$180,000 36,000 machine hrs= $5 / machine hrPower:$50,000 100,000 kilowatt hrs= $0.50 / kilowatt hrQuotes activity based methodJob 520 $Job 521 $Direct materials1,500Direct materials1,700Dire

58、ct labour1,200Direct labour1,200Overhead:Overhead: 2 set-ups x $200400 10 set-ups x $2002,000 8 reqns x $1080 22 reqns x $10220 400 MH x $52,000 600 MH x $53,000 2,200 kw hrs1,1003,580 4,440 kw hrs x $0.502,2207,440Cost6,280Cost10,340X 120%x 120%Quote7,536Quote12,408Note:Using the traditional method

59、, Job 520 may have been over quoted and the tender may be lost. That is, it used much less of the activities that caused overheads to be incurred than Job 521 but had the same overhead allocated to it.Using the traditional method, Job 521 may have been under quoted. That is, the quote using this met

60、hod was lower than the cost calculated under the activity based method, which may lead to a loss on this job if the traditional method was used._2.8a)Overhead recovery rate traditional method$330,000 13,750 DLH = $24 / DLH Unit selling prices traditional methodA1: $B1: $Direct materials2.50Direct ma